Leerink Partnrs Equities Analysts Reduce Earnings Estimates for PROCEPT BioRobotics Co. (NASDAQ:PRCT)

PROCEPT BioRobotics Co. (NASDAQ:PRCT) – Investment analysts at Leerink Partnrs decreased their Q2 2024 earnings estimates for PROCEPT BioRobotics in a report issued on Wednesday, May 1st. Leerink Partnrs analyst M. Kratky now expects that the company will earn ($0.56) per share for the quarter, down from their prior estimate of ($0.50). The consensus estimate for PROCEPT BioRobotics’ current full-year earnings is ($1.96) per share. Leerink Partnrs also issued estimates for PROCEPT BioRobotics’ Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.00) EPS, Q1 2025 earnings at ($0.62) EPS, Q2 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($1.49) EPS, FY2026 earnings at ($0.89) EPS and FY2027 earnings at ($0.31) EPS.

PRCT has been the topic of several other reports. Wells Fargo & Company increased their price target on shares of PROCEPT BioRobotics from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Piper Sandler increased their price objective on PROCEPT BioRobotics from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen increased their price objective on PROCEPT BioRobotics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial increased their price objective on PROCEPT BioRobotics from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.20.

PROCEPT BioRobotics Stock Performance

Shares of PROCEPT BioRobotics stock opened at $61.43 on Monday. The firm has a market capitalization of $3.16 billion, a P/E ratio of -28.98 and a beta of 0.95. PROCEPT BioRobotics has a 52 week low of $24.83 and a 52 week high of $65.00. The company has a quick ratio of 7.44, a current ratio of 8.52 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $50.51 and its two-hundred day moving average is $44.06.

PROCEPT BioRobotics (NASDAQ:PRCT) last released its earnings results on Wednesday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. The firm had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.58 million. PROCEPT BioRobotics had a negative net margin of 66.12% and a negative return on equity of 41.35%. The business’s quarterly revenue was up 82.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.63) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in PROCEPT BioRobotics by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,074,891 shares of the company’s stock worth $133,697,000 after purchasing an additional 385,271 shares in the last quarter. Wellington Management Group LLP purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $26,404,000. American Century Companies Inc. grew its holdings in PROCEPT BioRobotics by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 655,295 shares of the company’s stock valued at $21,500,000 after buying an additional 81,534 shares during the period. Handelsbanken Fonder AB grew its holdings in PROCEPT BioRobotics by 49.3% in the 4th quarter. Handelsbanken Fonder AB now owns 10,300 shares of the company’s stock valued at $432,000 after buying an additional 3,400 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in PROCEPT BioRobotics in the 3rd quarter valued at about $583,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alaleh Nouri sold 5,306 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $49.95, for a total transaction of $265,034.70. Following the completion of the sale, the executive vice president now directly owns 47,351 shares of the company’s stock, valued at $2,365,182.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Kevin Waters sold 904 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $50.00, for a total value of $45,200.00. Following the completion of the transaction, the chief financial officer now owns 33,523 shares in the company, valued at $1,676,150. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alaleh Nouri sold 5,306 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $49.95, for a total value of $265,034.70. Following the completion of the transaction, the executive vice president now owns 47,351 shares of the company’s stock, valued at approximately $2,365,182.45. The disclosure for this sale can be found here. Insiders sold a total of 144,581 shares of company stock valued at $7,770,023 over the last three months. 19.60% of the stock is currently owned by company insiders.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).